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REGISTERED COMPANY NUMBER: 05347511 (England and Wales) REGISTERED CHARITY NUMBER: 1108509
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
Trojans Scheme
Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
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Trojans Scheme
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Chair's Report | 1 | ||
| Report of the Trustees | 2 | to | 8 |
| Independent Examiner's Report | 9 | ||
| Statement of Financial Activities | 10 | ||
| Balance Sheet | 11 | to | 12 |
| Cash Flow Statement | 13 | ||
| Notes to the Cash Flow Statement | 14 | ||
| Notes to the Financial Statements | 15 | to | 19 |
| Detailed Statement of Financial Activities | 20 |
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Trojans Scheme
Chair's Report
for the Year Ended 31 December 2023
I am pleased to report that, overall, this was a year of positive and sustained good progress. We had a full return to our usual service levels, after the careful rebuilding of revenues, sensitively managed rebalancing of our core costs and the stabilising of finances over almost three years of 'surviving' and then recovering from the restrictions to our operations during the coronavirus period.
From the start of the year and onwards, our Senior Team, supported by the Trustees, focused on better positioning the organisation for enhancing and extending our services and achieving measured growth in both the numbers of service users at our services and the number and geographical spread of our clubs.
In September 2023 we launched a new service at Cathedral School, in the London Borough of Southwark. This was warmly welcomed by both the school and the parents. The club enjoyed a strong start and has received very positive feedback from the 'get go'.
August 2023 saw the first anniversary of our relocation to new and more suitable office accommodation and our major rebrand of our operating name to "The Play Professionals", to more appropriately reflect the nature and breadth of our service and expertise.
The accounts, which follow in this Annual Report, show that we achieved a very satisfactory operating surplus of £62,111 by the year end. The previous year, to 31 December 2022 had resulted in a modest surplus of just over £6,600, at the end of a challenging period as we successfully continued and concluded our recovery plan at the end of the coronavirus pandemic.
Our total reserves have also steadied to £102,165 (from £40,054 at the end of the previous period) and we have continued this positive direction in the following accounting period. In keeping with our strategy to ensure that all of our clubs are independently financially sustainable, modest price increases were made for the start of the academic year at most service settings.
We continue to invest in, reward, encourage and train our staff team to be the very best they can be and it is they who continue to maintain the reputation of The Play Professionals as one of the leading providers in our sector. They are a dedicated, professional and hard working team and they consistently drive the highest standards of excellence.
Ofsted, as the statutory inspector of our services, carries out periodic visits to assess the quality of our services and our compliance with recognised standards. During an inspection in the last quarter of the 2023 year, the Inspectorate recognised the positive experiences of children, the exciting and welcoming settings and the positive environments in which the staff excel at supporting children's development and that we deliver consistently strong practice.
Our Head of Service and our outstanding and hardworking Head Office colleagues continue to effectively and successfully manage all aspects of our operations, ably support and encourage our practitioner team and guide and energise our continuing development. I thank them all for their exceptional contribution to The Play Professionals.
Our financial strategy has to remain as minimising central costs wherever possible, maintaining a fair, flexible and affordable approach to fees and putting the maximum resources into our charitable activities, as we receive no statutory funding.
We are, as ever, aware of the responsibilities we have in supporting many families and ensuring that their children are well looked after by the outstanding teams of experienced play-workers at each of our breakfast, after school and holiday clubs. We recognise that many of the families we support face difficult financial times and we do not underestimate the very broad social value we deliver to the parents, the families of the children and the communities we serve.
Enhancing & enriching the play experience for the many hundreds of young people who participate at our clubs is what we strive to do incredibly well. We know that we have a positive impact on their lives and deliver wide social benefit.
My gratitude, as ever, to my colleagues on the Board of Trustees, many of whom have given close to ten years inspiring service. It is a privilege to work with them and the Charity benefits from the commitment, energy, skills and expertise which they bring to the exercise of their charitable and financial governance.
Nick Mason OBE FRSA September 2024
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Charitable aims
The charitable aims of the Trojans Scheme, as set out in its governing document are: "To advance the education of school age children through the provision of educational, play and recreational activities especially those that help develop their physical, intellectual and creative potential such that they may grow to full maturity as individuals and members of society".
Statement of purpose
1. Why we exist
The Charity was founded in 1995 in response to both a lack of affordable childcare and a safe, inclusive and stimulating playing environment for children in inner city London. Since then, we have grown and currently support an average of 300 children daily, providing families with affordable and flexible childcare at our Breakfast and After School clubs.
2. Who we are
We have a committed team of staff, volunteers and Trustees, who are passionate about improving outcomes for children. We are a pioneering social enterprise, almost entirely funded by parents' fees.
3. Our approach
a) Provide play, recreational and educational activities for school-age children through breakfast, after-school and holiday clubs.
b) Provide volunteering and internship opportunities and employ the skills and time our volunteers and interns are prepared to offer. In doing so, we help build skills of generations of young volunteers in our operating area.
c) As established leaders in our field, we share our knowledge and expertise through contributing to local and national policy-making, while delivering training and development for our staff and others.
d) Being a listening and learning organisation that consults regularly with our service users, staff and volunteers so that we can improve what we do, daily.
Meeting the Public Benefit
The need for safe, flexible and affordable play activities is essential to the well-being of children and often to the economic stability of families. Nowhere is that more important than in urban areas where play space is often not accessible to young children and where pressures on families overall are greater. The Charity works in a wide range of socio-economic environments including some of the most disadvantaged communities in the country.
Attending an after-school club, breakfast club or holiday club ensures that parents know their children are safe and well-cared for in professional, regulated play environments. In addition, access to meaningful, child-led play opportunities promote physical and mental wellbeing for children. Safe, welcoming spaces for children before and after school and during the school holidays can alleviate tensions created by factors including poor housing and limited access to outdoor spaces, crime and gang culture or other social issues.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2023
THE YEAR IN FOCUS
Introduction
The twenty-eighth continuous year of operation of the Charity was one of positive and sustained good progress. We were able to put behind us the challenging circumstances of the pandemic years, which had stretched the Charity's resilience, and returned to our usual service levels, with careful rebuilding of revenues, effective management of core costs and focus on steadying our finances and operating reserves.
We marked the first anniversary of our major rebrand of our operating name to "The Play Professionals", which more appropriately reflects the nature of our service and expertise and better positions us for enhancing and extending our service and measured growth in the number and geographical spread of our clubs.
We achieved a robust surplus of £62,111 by the year end (2022, by contrast, had given us a modest surplus of £6,603). We started the period with session prices held at the same rate as the previous few years however, in order to ensure that all of our clubs are independently financially sustainable, modest price increases were introduced in most cases for the start of the year.
From September 2019, there was a change in the way that Ofsted inspects 'out of school' childcare services. Under the new Ofsted regulations, 'Met' is the highest grade we can receive, and demonstrates the excellence of the team and the service offered to children and parents. There was an Ofsted inspection at one of our sites during the period under review, with excellent outcomes and recognition of the consistently strong practices of our staff team, the exciting and welcoming setting and the positive experiences of the children.
During 2023, we consistently provided around 2,000 places a week across our clubs, thus supporting many hundreds of families through the provision of safe and affordable out of school care. Opportunities for physical, exploratory and imaginative play are often harder to access for children from inner city environments and the Charity's professional play workers enabled children to benefit from over 4,500 hours of play a week.
Since 2013 over 90% of the Charity's income has come directly from parents whose children use our services. Nevertheless we work hard to ensure that all children are able to access play opportunities; around 2% of the children are able to access free places whilst for many more parents, working tax credits, childcare vouchers and other government financial schemes can enable the cost of a three hour session to be as little as £5.00 for the family. In addition, the Charity offers subsidised childcare places for staff and people volunteering with the organisation.
Alongside our regular after school services, we also provide a short notice and emergency provision. The "Superheroes" service ensures that children can be collected at the end of the school day, at short notice, when a parent finds that they are unable to get to school in time for whatever reason. During the year under review, our "Superheroes" continued to come to the rescue on a regular basis. The numbers of parents who use this option demonstrates an ongoing need for this flexible addition to our regular services. The benefits of the rapidly responsive "Superheroes" service include parental peace of mind and the provision of a safe and secure play environment for their children.
Centres
At the end of 2023, the Charity was providing breakfast and after school clubs at seven school sites across Lambeth, Wandsworth and Southwark. During the year we opened a new after school club at Cathedral School in Southwark. Our strong and positive working relationship with Ofsted enables us to secure statutory registration for new sites within sensible timeframes and the new service had a very strong start and has had very positive feedback from parents, children and the school.
New Breakfast and After School Club services had opened at Reay Primary School in the previous year, as a result of the school approaching us. Attendance numbers have steadily grown at both Reay and Cathedral and our team of practitioners are delivering a quality service, as recognised by Ofsted.
Our largest clubs now have as many as 90 children attending on a daily basis, whilst others, often in new and growing schools, have smaller numbers of children. Whatever the size of each club, they promote a safe, friendly and fun environment where children of different ages are given opportunities to express themselves through play. Qualified play-workers and managers at each club work with colleagues and the children to develop a flexible programme of creative, imaginative and physical play, leading to the development of a wide range of skills.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2023
Overall attendance at clubs remained steady through the year. We were providing approximately 1,300 sessions per week at after school clubs and 600 places per week at Breakfast Clubs where we were operating. The growing demand for Breakfast Club places demonstrates the increasing need for out of schools services for parents at the beginning of the working day.
We are proud of the close relationship we enjoy with parents and with schools. During the year we regularly supported families at times of crisis by providing short term and emergency support through our 'Superheroes' service and working with partner schools to provide additional support for families in need.
Holiday Clubs
Where there is demand, we run Holiday Playschemes at times of school holiday breaks. Our Holiday Clubs are very popular, well subscribed and provide a safe, fun environment for children from 8.00am to 6.00pm on each working day and provide parents with the reassurance of high quality and engaging care for their children.
RISK MANAGEMENT
The Board of Trustees and the Head of Service are responsible for risk management. The Charity maintains a Risk Register which is closely monitored and regularly reviewed (the most recent review being in September 2022).
Our current priorities are:
1. Child Welfare
The Charity provides breakfast and after school clubs for approximately 300 children each day across a number of sites as well as Playschemes during most major holidays. As well as the risk that something could happen to a child or children whilst they are in the Charity's care there are also risks related to possible failures to respond effectively to allegations or disclosures.
Key controls:
a. We have safeguarding policies in place that were reviewed in 2020 to ensure that they are fit for purpose;
b. We employ senior operational staff, including the Head of Service and Centre Managers who are qualified and experienced sector professionals;
c. We ensure that all staff, volunteers and interns working with children are recruited following safe recruitment guidelines, including DBS checks and references;
d. We ensures that all staff, volunteers and interns working with children receive appropriate training and support to meet the requirements of their roles.
2. Finance
We are a registered charity and company limited by guarantee. In recent years statutory funding that historically supplemented parents' contributions has virtually ceased and the organisation is now effectively a commercial not-for-profit business. We have an ongoing need to ensure the viability of this model in order to meet our charitable purpose of providing fun, safe play opportunities for children.
Key Controls:
a. We have financial procedures in place that are regularly reviewed to ensure that they are fit for purpose;
b. The Board of Trustees has a finance sub-committee led by the Joint Treasurers who are qualified and experienced finance professionals. The Finance sub-committee oversees all aspects of financial planning and monitoring and reports to the full Board;
c. The Head of Service reviews the annual budget and monthly management accounts are also prepared by an external Finance Director to ensure financial compliance and monitoring systems are in place. Fees for services are reviewed annually and usually at the beginning of the academic year;
f. Strict budgetary controls have ensured that the Charity's overall financial position has returned to an operating surplus after several years of deficits resulting from the coronavirus pandemic.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2023
3. Operations
The majority of the Charity's activity is regulated for children under five by Ofsted. The implications of one of our after-school clubs receiving an unfavourable rating from Ofsted can range from reduced attendance undermining the financial viability of a club to the termination of a partnership agreement from the host school and in some cases the registration being withdrawn or prosecution. In addition, our operational support model is based on a critical mass of centres and bookings which rely on appropriate staffing ratios to safely support the children present.
Key Controls:
a. We undertake periodic quality assurance audits and 'Ofsted Ready' pre-inspection visits at all clubs annually and in advance of anticipated inspection dates;
b. It is a requirement of Centre Managers that their sites attain 'Met' at an Ofsted inspection. Managers are qualified and experienced sector professionals;
c. Centre Managers are required to regularly liaise with schools, including termly meetings with the Head teacher or delegated lead to maintain a positive relationship;
d. The Head of Service also maintains strategic communications with partner schools on matters outside the remit of Centre Managers.
4. Failure to Operate
We provide a daily service to hundreds of working parents. Within the model there is an emergency service and our clubs can generally be expected to operate on any day that the host school is open. If we were unable to operate at any sites on expected operating days the damage to reputation could result in loss of bookings or in extreme cases, termination of agreements with schools.
Key Controls:
a. Our terms and conditions comprehensively detail arrangements for school closures;
b. The Head of Service and HR Assistant proactively and reactively manage staffing to ensure all sites are operational. In emergencies senior staff are also required to cover at sites;
c. The Administration team sends registers and updates to each club by text, email and hard copy as required.
5. Cyber Risk
Like most organisations, we are reliant on technology to operate effectively. Booking and storage of children's information, dissemination of registers and staff sign-in and sign-out are examples of key functions that require access to operative ICT. Each site has connection to Head Office through smart phone technology. The Charity requires robust alternatives to ICT to ensure multi-site operations in the event of ICT failure.
Key Controls:
a. We contract IT support to a specialist provider. In addition, key staff and Departments (Finance and HR) have smart phones with internet capability;
b. Key technologies, notably the booking system are web-based making them more secure than a server hosted system; Confidential information is either self-entered by the user (children's information) or not accessed by our staff (bank details for termly bookings);
c. Alternative technologies (e.g. texts and paper copies) are used to disseminate information as required.
FINANCIAL REVIEW
In the year 31 December 2023, we received income of £658,142 (2022: £534,302) and expended £596,031 (2022: £527,699) to give an operating surplus of £62,111 (2022: £6,603). This was a robust result, reversing the deficits we had seen in the period of the Coronavirus pandemic and was the result of significant work in reducing core costs and sound budgetary management.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2023
The steadying of our finances means that at 31 December 2023 our reserves stood at £102,165 (2022: £40,054). Whilst our reserves policy remains to hold reserves equal to three months expenditure, during the 2024 year we aim to continue to replenish our reserves in a manner which does not impact on our ability to deliver affordable and high quality services.
In response to the continuing need for play opportunities and the demand for our services from families the Charity had transitioned some years ago from a position where Local Authorities were the primary source of income to a financial model that relies almost solely on parents' contributions. Parents are either able to make a termly regular booking or access an ad hoc or emergency service ('Superheroes') that enables places to be made available up to 3.00pm on the day of the booking.
Parents are also able to directly access financial support from the Government in a number of ways including Tax Credits, universal benefits and childcare voucher schemes, where appropriate to their needs. Parents of children who are eligible for the school Pupil Premium can also access one session each week at a significantly reduced charge. As a result of financial restructuring over recent years The Play Professionals continues to provide a sustainable resource across multiple sites that offers good value to parents compared to other options including childminders and private sector alternatives.
We continue to focus on financial monitoring and have strong controls in place. Examples of these include:
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Strong financial expertise on our Board of Trustees, with three of our Trustees being Chartered Accountants, and an external Finance Director.
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Full management accounts, including balance sheets, are prepared on a monthly basis and reviewed at periodic conference calls for the Finance Trustee sub-committee.
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Independent Examination of our annual accounts. This provides detailed external and professional scrutiny.
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Monitoring our booking pipeline and income collection on a regular basis.
The Trustees are satisfied that our ongoing plan for financial health, current cash position and the robust financial controls are sufficient for the Charity to remain an effective going concern at the time of this report.
STAFF REMUNERATION
The Trustees review all staff salaries, including those of the key management personnel, and Head of Service periodically. Members of the Finance Sub-Committee make recommendations to the Board for decision. Employee remuneration was reviewed and increases implemented in Spring 2023.
LOOKING AHEAD INTO 2024
The Board of Trustees are confident that the charity's future prospects are positive and that it remains as a 'going concern'.
We implemented the major and planned rebrand of our operating name to "The Play Professionals" last year and the change more appropriately reflects the nature of our service, ethos and expertise and better positions us for enhancing and expanding our services and measured growth in the number and geographical spread of our clubs. Our statutory name remains as Trojans Scheme.
PEOPLE
We currently have 37 site based staff. Our teams of practitioners comprise qualified and experienced managers and play-workers, supplemented by 'bank' colleagues on occasion.
Head office staff comprise our Head of Service, Finance Coordinator, HR Coordinator, and Administration & Communications Coordinator. We also utilise volunteers to help with administration and we have a longstanding relationship with Westminster University through which we support intern placements. Our interns usually provide valuable assistance in the areas of finance and business, marketing and play-work. This supports office and site functions and promotes the service at a nominal cost.
We invest in our colleagues through regular statutory and voluntary training, quality assurance support and team building communication and activities. In 2024/2025, we will look towards Investors In People accreditation.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2023
We also propose to recruit up to two new trustees, to strengthen the skills and experience bases on the Board and to continue to develop our strategic plan.
GROWTH
As the Charity has now returned to a full and normal range of operations, after two years of pandemic disruptions, we continue to work with our host schools to increase attendance at sites and fully utilise available capacity. The ability to increase the take up of places in our existing sites and activity to launch new services is key to the sustainability of the organisation.
We are also identifying and responding to new opportunities at schools and our rebranded and redesigned website is assisting our focus on marketing our services. As schools seek new sources of revenue, many have taken 'out of school services' in-house but others are re- evaluating their existing external providers, which presents opportunities.
The advantages of external providers to schools are that the school does not meet recruitment, insurance and resources costs, and does not need to provide qualified staff and administration support.
Affordability varies throughout the borough and to an extent is the main driver when choosing an external provider. The Play Professionals is positioned as a 'preferred choice' based on our high levels of Experience, Quality, Consistency and Qualification.
Risk factors are minimised by all staff having appropriate qualifications and a robust system of monitoring performance.
We will continue discussion with a number of potential settings and further work will be undertaken to explore development opportunities in the borough of Southwark in the coming months.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trojans Scheme, which operated as 'Kids' City' up to 1 September 2022 and as 'The Play Professionals' from that date forwards, is a registered charity, number 1108509 and was incorporated as a limited company on 31 December 2004.
The articles of association provides for a minimum of four Trustees and a maximum of nine. One third (or the number nearest one third) of the Trustees must retire at each AGM, with those longest in office retiring first. A retiring Trustee is eligible for reappointment. New Trustees are elected by members each year at the annual general meeting.
Trustees hold full committee meetings at least four times a year, with additional sub- committee meetings held for specialist matters, such as finance, as required. At the quarterly Trustee committee meetings, the Trustees agree the broad strategy and areas for activity for the charity, including consideration of investments, fund raising, fee setting, reserves, risk management and performance. Day to day decisions regarding the operation of the charity during the year were delegated to the Head of Service, including the authority to incur expenditure, or enter contracts, for items up to £10,000.
A periodic Trustee 'away day' is held to provide appropriate training to Trustees on their responsibilities. An induction is provided to new Trustees, which includes an opportunity to visit one of the after school clubs and access to historic committee and sub-committee papers.
All Trustees give their time freely and no Trustee remuneration was paid in the year.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05347511 (England and Wales)
Registered Charity number
1108509
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2023
Registered office
Richard Atkins School, New Park Road Brixton Hill London SW2 4JP
Trustees
N Mason OBE (Chair) C Aldridge (Deputy Chair) Y Johnson (Joint Hon. Treasurer) N J Soulsby (Joint Hon. Treasurer) A R Penfold S Tynan S Perriard-Abdoh (Appointed 30 August 2023)
Karen Wilson has also been co-opted to the Board of Trustees, but is not a Company Director.
Independent Examiner
Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
����� � �� ����� Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ N Mason - Trustee
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Independent Examiner's Report to the Trustees of
Trojans Scheme
Independent examiner's report to the trustees of Trojans Scheme ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul J Chamberlain
Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
����� � �� ����� Date: .............................................
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Trojans Scheme
Statement of Financial Activities for the Year Ended 31 December 2023
| Unrestricted fund Notes £ INCOME FROM Charitable activities 2 Playschemes and training 658,142 Other income - Total 658,142 EXPENDITURE ON Charitable activities 3 Playschemes and training 596,031 NET INCOME 62,111 RECONCILIATION OF FUNDS Total funds brought forward 40,054 TOTAL FUNDS CARRIED FORWARD 102,165 |
Restricted fund £ - - - - - - - |
31.12.23 31.12.22 Total Total funds funds £ £ 658,142 532,447 - 1,855 658,142 534,302 596,031 527,699 62,111 6,603 40,054 33,451 102,165 40,054 |
31.12.23 31.12.22 Total Total funds funds £ £ 658,142 532,447 - 1,855 658,142 534,302 596,031 527,699 62,111 6,603 40,054 33,451 102,165 40,054 |
|---|---|---|---|
| 534,302 | |||
| 527,699 | |||
| 6,603 33,451 |
|||
| 40,054 |
The notes form part of these financial statements
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Trojans Scheme
Balance Sheet
31 December 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 2,200 CURRENT ASSETS Debtors 10 13,015 Cash in hand 225,644 238,659 CREDITORS Amounts falling due within one year 11 (107,531) NET CURRENT ASSETS 131,128 TOTAL ASSETS LESS CURRENT LIABILITIES 133,328 CREDITORS Amounts falling due after more than one year 12 (31,163) NET ASSETS 102,165 FUNDS 13 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31.12.23 Total funds £ 2,200 13,015 225,644 238,659 (107,531) 131,128 133,328 (31,163) 102,165 102,165 102,165 |
31.12.22 Total funds £ 2,934 11,964 166,321 178,285 (102,304) 75,981 78,915 (38,861) 40,054 40,054 40,054 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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Trojans Scheme
Balance Sheet - continued 31 December 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ����� � �� ����� ............................................. and were signed on its behalf by:
............................................. N Mason - Trustee
The notes form part of these financial statements
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Trojans Scheme
Cash Flow Statement for the Year Ended 31 December 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.23 £ 59,323 59,323 59,323 166,321 225,644 |
31.12.22 £ 8,727 |
|---|---|---|
| 8,727 | ||
| 8,727 157,594 |
||
| 166,321 |
The notes form part of these financial statements
Page 13
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Trojans Scheme
Notes to the Cash Flow Statement for the Year Ended 31 December 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| Net income for the reporting period (as per the Statement of Financial | ||
| Activities) | 62,111 | 6,603 |
| Adjustments for: | ||
| Depreciation charges | 734 | 980 |
| (Increase)/decrease in debtors | (1,051) | 2,057 |
| Decrease in creditors | (2,471) | (913) |
| Net cash provided by operations | 59,323 | 8,727 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.23 | Cash flow | At 31.12.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 166,321 | 59,323 | 225,644 |
| 166,321 | 59,323 | 225,644 | |
| Total | 166,321 | 59,323 | 225,644 |
The notes form part of these financial statements
Page 14
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Trojans Scheme
Notes to the Financial Statements
for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost Plant and machinery - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Going concern
The financial statements have been prepared on a going concern basis after taking into account the current risks relating to COVID-19 as the Trustees have determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern.
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
2. INCOME FROM CHARITABLE ACTIVITIES
| 31.12.23 Activity £ Fee and grant income Playschemes and training 658,142 3. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 4) £ £ Playschemes and training 422,319 173,712 4. SUPPORT COSTS Governance Management costs £ £ Playschemes and training 162,971 10,741 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.12.23 £ Depreciation - owned assets 734 |
31.12.22 £ 532,447 |
|---|---|
| Totals £ 596,031 |
|
| Totals £ 173,712 |
|
| 31.12.22 £ 979 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
7. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Playscheme staff Administrative staff |
31.12.23 £ 404,373 404,373 31.12.23 31 6 37 |
31.12.22 £ 377,751 |
|---|---|---|
| 377,751 | ||
| 31.12.22 28 4 32 |
No employees received emoluments in excess of £60,000.
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME FROM Charitable activities Playschemes and training 532,447 - Other income 1,855 - Total 534,302 - EXPENDITURE ON Charitable activities Playschemes and training 527,699 - NET INCOME 6,603 - RECONCILIATION OF FUNDS Total funds brought forward 33,451 - TOTAL FUNDS CARRIED FORWARD 40,054 - 9. TANGIBLE FIXED ASSETS Improvements to Plant and property machinery £ £ COST At 1 January 2023 and 31 December 2023 15,839 12,110 DEPRECIATION At 1 January 2023 15,839 9,176 Charge for year - 734 At 31 December 2023 15,839 9,910 NET BOOK VALUE At 31 December 2023 - 2,200 At 31 December 2022 - 2,934 |
Total funds £ 532,447 1,855 |
|---|---|
| 534,302 | |
| 527,699 | |
| 6,603 33,451 |
|
| 40,054 | |
| Totals £ 27,949 25,015 734 25,749 2,200 2,934 |
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.12.23 | 31.12.22 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade debtors | 2,245 | 126 | ||
| Prepayments and accrued income | 10,770 | 11,838 | ||
| 13,015 | 11,964 | |||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.23 | 31.12.22 | |||
| £ | £ | |||
| Trade creditors | 7,131 | 10,261 | ||
| Social security and other taxes | 5,535 | 5,346 | ||
| Other creditors | 7,698 | 6,937 | ||
| Deferred income | 68,946 | 62,816 | ||
| Accrued expenses | 18,221 | 16,944 | ||
| 107,531 | 102,304 | |||
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 31.12.23 | 31.12.22 | |||
| £ | £ | |||
| Other creditors | 31,163 | 38,861 | ||
| 13. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.23 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 40,054 | 62,111 | 102,165 | |
| TOTAL FUNDS | 40,054 | 62,111 | 102,165 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 658,142 | (596,031) | 62,111 | |
| TOTAL FUNDS | 658,142 | (596,031) | 62,111 |
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.22 £ Unrestricted funds General fund 33,451 TOTAL FUNDS 33,451 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 534,302 TOTAL FUNDS 534,302 |
Net movement At in funds 31.12.22 £ £ 6,603 40,054 6,603 40,054 Resources Movement expended in funds £ £ (527,699) 6,603 (527,699) 6,603 |
|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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Trojans Scheme
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME | ||
| Charitable activities | ||
| Fee and grant income | 658,142 | 532,447 |
| Other income | ||
| Consultancy and other income | - | 1,855 |
| Total incoming resources | 658,142 | 534,302 |
| EXPENDITURE | ||
| Charitable activities | ||
| Staff costs | 301,739 | 257,794 |
| Premises costs | 43,284 | 24,975 |
| Insurance | 2,250 | 3,643 |
| Sundries | 2,459 | 6,202 |
| Equipment and activities | 24,965 | 16,775 |
| Snacks and drinks | 30,629 | 23,792 |
| Recruitment costs | 16,993 | 7,456 |
| 422,319 | 340,637 | |
| Support costs | ||
| Management | ||
| Staff costs | 102,634 | 119,957 |
| Head office costs | 59,603 | 56,236 |
| Depreciation | 734 | 980 |
| 162,971 | 177,173 | |
| Governance costs | ||
| Accountancy and legal fees | 5,599 | 4,915 |
| Trustee meeting costs | 49 | - |
| Bank charges and interest | 5,093 | 4,974 |
| 10,741 | 9,889 | |
| Total resources expended | 596,031 | 527,699 |
| Net income | 62,111 | 6,603 |
This page does not form part of the statutory financial statements
Page 20